LOS ANGELES (AP) â€" The Material Girl is finally going to make good on her guarantee to furnish new albums underneath an all-encompassing rights understanding value $120 million that she sealed with concert upholder Live Nation some-more than 4 years ago.
Madonna will recover a new manuscript in late Mar by Universal Music Group's Interscope Records, a tag pronounced Thursday.
Live Nation Entertainment Inc. will attend in a profits, if a manuscript does well.
It will be her initial manuscript in 5 years and is partial of a three-album agreement with Interscope. It will follow a late Jan recover of a singular "Gimme All Your Luvin'" and her halftime opening during a Super Bowl on Feb. 5.
Madonna pennyless from her longtime song backer, Warner Music Group, and was among a initial of a horde of megastars that Live Nation sealed to outrageous rights deals that would give a unison upholder a share of income from touring, merchandise, fan clubs, sponsorships and even available music. Her understanding lonesome 10 years.
Other pricey deals around that time enclosed artists Jay-Z, Shakira, Nickelback and U2.
Live Nation has never had a ability to record, foster and discharge albums, so it has tied adult with normal recording companies to make a supposed "360 deals" work.
Jay-Z expelled his initial manuscript underneath his deal, "The Blueprint 3," with a assistance of Warner Music's Atlantic tag in Sep 2009. "Watch a Throne," a rapper's collaborative manuscript with Kanye West, came out in Aug with an support from Universal's Def Jam.
Madonna's manager, Guy Oseary, pronounced in a matter that "we couldn't be happier" with a new arrangement. "We expect a really splendid destiny during a new home."
The costly signings have not utterly worked out as approaching for Live Nation. It released $25 million in new batch to compensate Madonna in Oct 2007, though after found itself on a offshoot to make adult a disproportion in money when a batch cost collapsed.
Live Nation shares sealed during $8.23 on Thursday, down from $21.45 a day it sealed a understanding with Madonna.
It also took a $13.4 million write-down on a deals in a initial entertain of 2010 as it revised downward their approaching value.
The company, that joined with Ticketmaster in early 2010, has generated some sales from a deals, however. Madonna's "Sticky & Sweet" tour, that began in Aug 2008, went on to sum some-more than $400 million, giving her a climax for a many successful debate ever by a solo artist.
News referensi http://news.yahoo.com/madonna-release-first-album-live-nation-deal-210542820.html
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